Midos SI
Overview
The MIDOS SI tool was developed by Dennis McNicholl and is documented in his book ‘ Taming complexity in Trading: beating the DOW 3 to 1’. MIDOS SI uses a statistical approach to the market and is based on the same methods that are used in political polling.
To add the tool to your chart, select the tool from the Statistical tool group, and left-click on the chart to add the tool. Optuma will then draw the tool in a window below the chart using the default settings.
Scripting Function: MSI()
Actions & Properties
Actions
Copy Data to Clipboard: Will copy the tool’s values to the clipboard which can then be inserted into a spreadsheet, for example, allowing for further analysis.
Add to Toolbar: Adds the selected tool to your custom toolbar.
Apply Settings to All: When multiple Midos SI tools have been applied to a chart, page or workbook, this action can be used to apply the settings of the one selected to other instances of the tool. This is a great time saver if an adjustment is made to the tool - such as line colour - as this allows all the other Midos SI tools in the chart, page or entire workbook to be updated instantly.
Copy Tool: Allows you to copy the selected tool, which can then be pasted onto a different chart window.
Move to Back: If the tool is displaying in front of other tools or indicators clicking this action will move the tool view to the background.
Move to Front: If the tool is displaying behind other tools or indicators on the chart, clicking this action will bring the tool to the forefront.
Restore Default Settings: Click this action if you have adjusted the default settings of the tool, and wish to return to the standard properties originally installed with Optuma.
Save Settings as Default: If you have adjusted any of the tool’s properties (colour, for example) you can save the adjustments as your new default setting. Each time you apply a new Midos SI to a chart, the tool will display using the new settings.
Delete: Deletes the tool from the chart.
Properties
Tool Name: Allows you to adjust the name of the tool, as it’s displayed in the Structure Panel.
Gamma Value: Allows adjustments to the Gamma value used to generate the Midos SI line. For information on how this setting is used in the tools calculation, please refer to the book mentioned in the Description section of this article.
Beta Value: Allows adjustments to the Beta value used to generate the Midos SI line. For information on how this setting is used in the tools calculation, please refer to the book mentioned in the Description section of this article.
Omega Value: Allows adjustments to the Omega value used to generate the Midos SI line. For information on how this setting is used in the tools calculation, please refer to the book mentioned in the Description section of this article.
1st Signal Line: Sets the value of the 1st Signal Line displayed in the Midos SI window.
2nd Signal Line: Sets the value of the 2nd Signal Line displayed in the Midos SI window.
3rd Signal Line: Sets the value of the 3rd Signal Line displayed in the Midos SI window.
4th Signal Line: Sets the value of the 4th Signal Line displayed in the Midos SI window.
Plot Style: This option expands to show the following:
- Plot Style - Allows you to change how the Moves the indicator forward or backwards in time. The offset is measured in bars so a value of 2 will push the Wilson Relative Price Channel forward 2 bars and -2 will move the Wilson Relative Price Channel back 2 bars is displayed on your chart. There are 6 options available: Line, Dot, Histogram, Step, Shaded, Shaded Step.
- Line Style - The Line Style property allows you to adjust the type of the line displayed. There are 8 options available: Solid, Dots, Dash, Dash Dots, Long Dash, Long Dash Dot, Long Dash Dot Dot, Stippled.
- Line Width - Allows you to adjust the width of the lines. Moving the slider bar to the right increases the thickness of the line.
- Line Colour - Allows you to select the colour of the line. Clicking on the drop down arrow will display a colour swatch. Locate the desired colour and left-click it once to select it.
Line Style: The Line Style property allows you to adjust the type of the signal lines displayed. There are 8 options available: Solid, Dots, Dash, Dash Dots, Long Dash, Long Dash Dot, Long Dash Dot Dot, Stippled.
Line Width: Allows you to adjust the width of the lines. Moving the slider bar to the right increases the thickness of the line.
Line Colour: Allows you to select the colour of the line. Clicking on the drop down arrow will display a colour swatch. Locate the desired colour and left-click it once to select it.
Offset: Moves the indicator forward or backwards in time. The offset is measured in bars so a value of 2 will push the Midos SI forward 2 bars and -2 will move the Midos SI back 2 bars.
Tool Transparency: Use this slider bar to adjust the transparency of the tool. Moving the slider to the left will increase the transparency of the tool.
Visible: Un-tick this checkbox to hide the tool from the chart.
Show in Price Scale: When selected the current Midos SI value will be displayed in the Price Scale.
More Information
External Links
For more information on how to use the Midos SI tool, please refer to Dennis McNicholl’s book Taming complexity in Trading: beating the DOW 3 to 1.